Our Stock of the Week is Elys Game Technology (ELYS). ELYS provides online and land-based gaming services in Europe and North American. It offers lotteries, casino gaming, sports betting, traditional online casino games, live online casino games, poker, bingo, virtual sports betting, and horse racing, as well as skilled and interactive games and slots.
Not only does the company offer direct-to-consumer of B2C, but it also offers a gaming platform for businesses such as sports bars. It is preparing to roll out its Business-to-Business Sports Betting and iGaming platform in regulated markets in the U.S.
Technically, the stock has been in a trading range around the $5 to $6.50 area. After a recent spike to $8.25, the stock has pulled back to support around $5.75, which is the 50-day simple moving average. We are looking for anticipation of positive news to provide support for the next move higher.
As always, we would not chase the open on Monday morning but would look to add to positions either on lighter-volume pullbacks or on higher-volume moves through the $7 area.
This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell, or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength and will buy or sell at any time for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees, and affiliates of Shark Investing, Inc. and/or principals, employees, and affiliates of Shark Asset Management, Inc. (“SAMI”), directly or indirectly, controlled investment and/or trading accounts containing positions in ELYS. To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.